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FOX Business After the Bell

News/Business. Stock market updates. New.

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Washington 14, Us 13, Yankees 12, Alex Rodriguez 11, U.s. 10, Cbs 10, Barron 9, Jeff Bezos 8, S&p 7, Lincoln 6, Adam 6, New York 6, Dennis Kneale 5, Polaris 4, Dennis 4, Jeter 3, Rodriguez 3, Warner 3, Liz Claman 3, Jack Hough 3,
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  FOX Business    FOX Business After the Bell    News/Business. Stock  
   market updates. New.  

    August 5, 2013
    4:00 - 5:01pm EDT  

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you can't get too greedy because then you're a pig. [closing bell ringing] adam: nicole petallides. the bells are ringing on wall street. we'll look how the stocks are finishing. we don't quite just yet. the dow is down 45 points. s&p 500 holding above 1100 but down two points. nasdaq going into positive territory. up two points. want to look at the front page headlines. the u.s. non-manufacturing sector picked up seem in july. the ism non-mr.ing index -- manufacturing index rose to 56. highest since february. time warner suggests a immediate resumption with quote, economics pay greed to during negotiations. it also proposed that time warner cable carry cbs stations on an a la carte basis. cbs haven't yet responded. 12 players accepting a 50-game suspension for violating
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major league baseball's drug policy. new york yankees slugger alex rodriguez has been suspendedded for 211 games. that ban effective thursday. dallas federal reserve bank president richard fisher says the fed is closer to curbing asset purchases. the fed president said with friday's jobs report, the fed is closer to execution proceed. pondering right time to begin reducing purchases. boston red sox owner john henry is buying "the boston globe" from "the new york times." the deal? 70 million in cash, far less than the 100 million that deal was expected to fetch. "after the bell" starts right now. adam: we want to get to the action. lincoln ellis is the in pits of the cme. talk about what is happening with commodities. what can you share with us, lincoln?
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>> very interesting day here, as the equity markets trade back and forth, seesaw, it make as new high. commodities particularly in the corn complex reach the lowest level they have seen since 2010. as a previous guest was saying to liz, you continue to see across the commodities complex die he vergence what is going on with the real economy and what is going on with the fed-engineered economy, stock market making new highs. keeping people wrong-footed. people trying to ferret out which way a fed policy piece would go and really having to for the time-being anyway, to ignore the fundamentals. it is august and perhaps the saying this year should be sell in august and go away because in you sold in may you lost a whole bunch of gains for the year. europe is on vacation. looks as though we'll meander this, is last big week of earnings for s&p companies this week and we'll kind of meander around for the next two or three weeks here trading around the 1700 level. adam: let me ask you about this.
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i keep hearing about people being overbought in this market. that equities are really more expensive than they should be and now is not the time to get in again. would you agree or say no, this is a good time to get in. >> i think you're really having to balance that, right, between a 10-year yield, approaching 2.75. if it moves through 2.75 some of the technical structural aspects of market could kick in and make stocks look extraordinarily expensive. i would not put too new money to work at the top. we would definitely wait for a 3 to 5% pullback. we'll look very selectively at defensive and yield oriented parts to this market. liz: lincoln, liz claman on the floor of the new york stock exchange. we can not forget a piece of date that that came out this morning. institute of supply management, non-manufacturing portion, the services, it jumped to 56 from a much lower reading of 52.2. the market didn't seize upon that data however. many are like a piece of data
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that didn't excite it. what is the next area that might? is it durable goods or auto sales as we wait and get closer to that? >> certainly durable goods and auto sales would both be much larger and more industrial oriented pieces. it is interesting, liz, this is a great point to note. even though you get a jump in ism numbers what that reflects in friday's payroll gains. where we're adding jobs are in the service sector, lower, less sustainable wage jobs and perhaps, that, important reflection, suggests that people really don't have income growth to continue to consume at the rates that this equity market suspects that they're going to continue. adam: lincoln, my concern over what you just said, over 60% of the jobs created last month were part-time. it seems to me this is a very precarious time if you're going to bet on the u.s. consumer. >> yeah, i think we wouldn't bet on the u.s. consumer. this week we get one of the more component pieces consumer credit
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growth. look at what type of consumer credit growth you get. are you going to see expansion in auto growth space. will you continue to see credit in the evolving credit. will you see household balance sheets pay that debt down. they have done for the 2 1/2 years. we've seen incremental growth, unhealthy kind of growth given job and wage gains we've seen in the consumer credit space. so keep an eye on that. that is definitely a huge key to whether or not you see a pickup in consumption and therefore top-line growth or whether or not we begin to see this economy level off over the course of the next quarter or two. liz: lincoln, i love one of the things that you said pretty much at the top, when we first took you, that was things have actually looked really good and if people sold in may they would have missed out. the s&p is up five out of the six past weeks. not bad. during that time we've seen a gain of another 7%. you say that because europe is on vacation we might see some meandering but there is still a lot of action what is going on
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in asia. in asia they never take vacation. they're trying to be really engaged to see what is happening. oil market is very much a play here as well, correct? >> yeah, look, asia could actually do with actually getting out of bed. probably the worst performing neighborhood as far as emerging economies in south america. "tale of two cities." emerging economies of south america and southeast asia, underperforming down 10 to 15%. europe stuck in neutral. trying to figure out whether a turn in the economy is real or just a bounce along the bottom. then of course, the fed stimulated and highly motivated u.s. equity markets, that is, the product of pushing people out on that risk curve. if you're going to bring that full circle, you will get people coming back out on to the risk curve into emerging economies. that is where organic growth could be starting. that is where you begin to see the recovery. adam: lincoln and liz, kim ford,
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for the pitt capital group joining us right now. it is good to have you. let me ask you quick. i know you're hot on honeywell and hot about intel. i want to ask you about intel. why are you saying this is a place you might want to be. didn't they miss a mobile chip market? only 2% of their sales but still heavily reliant on pcs? >> an servers. servers are doing pretty well for them. that saved the intel ship up to now. you're completely right the company missed the boat on mobile anything. however, we are looking at their lineup and the technology that's in that lineup and we think, that people like you and me, want to do more on their mobile devices and, armed -- they don't necessarily have the technology, that intel does and i think we'll see lots more wins in that mobile space that intel will show us by the end of this year. liz: kim, it's liz and i'm just looking at gold right now, closing at about as even as you
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can get with $1300 a troy ounce. you like joy which is miner, down precipitously, down 44% over the past year. what is going on here? where do you see the value? is it price to earnings ratio and the fact that these mining stocks are really inexpensive right now, i hate to say cheap? >> it is. it is a longer term strategy. this is not a trading strategy. we think coal still will be needed to create electricity and to make steel. so joy is probably the last remaining company that does underground mining. and they're doing very well in china and in russia. and they know how to operate in those markets. that's why we have them in our portfolio. liz: and as you look at all of this, you guys, lincoln, want your final thought on the market, as we move toward the really slow last two weeks of august, you're not wrong when you anticipate that might be meandering but one headline
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could gyrate this? we still have date that that come out every week? >> i mean we're really light. that will be the problem over the course of the next couple weeks. not only out of earnings season but out of macroeconomic data season the pickup in pmi, global turn, people will spend a couple weeks trying to figure out, again as i said, if that turn in europe is actually a turn or a bump along the bottom. i do like kim's idea about the miners. there are lots of little pockets in this market that have been deeply oversold because of their tenuous relationship to one particular commodity or another. those are places where investors could find value and i will have to look through and sort through those small, little, opportunistic places. maybe you take the next two weeks in august to do that. adam: kim i will get one more question in to you. i want to talk about honeywell. >> sure. adam: this is overpriced stock. pe 21. forward earnings, will grow 17 but still seems expensive to me. >> it is one of the garpier
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stocks we have in our portfolio but we still really like them based on another one of our holdings which is boeing. you can point to boeing and kind of like get nervous about that as well but they're book-to-bill ratio is over one. that is the pull-through we see for a lost honeywell's products. a lot of that product goes into the 787 and this is only at the beginning of the delivery cycle for that line of business for boeing. adam: the other thing is, revenue in their automotive sector was up 5%. turbo chargers and other things that go into cars and cars are just booming everywhere. >> right. adam: kim forest, thank you very much. lincoln, we'll check back in with you with the s&p futures close. >> thank you. adam: right now the very latest on time warner cable's new plan to end the three-day cbs blackout that is coming up next. the cable operator making a bold proposal that could change the way all of us pay for television. liz: and i know our viewers would love to know three stocks
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that could be guaranteed to outperform the markets in the next few months to a year. coming up, one of the smartest in the business, baron's senior editor jack hough joining us life with three names he says will do exactly that. ♪ [ male announcer] surprise- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises?
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adam: s&p futures are closing. we want to head back to lincoln ellis on the floor of the cme. lincoln. >> adam, great to be back with you. just to wrap up this week, we're light on data and also coming to the end of the earnings cycle here. interesting to note, i was looking back at earnings beats. we're running about a 20% beat to miss ratio. we're going to see about 119 companies report today and about 150 plus or minus throughout the balance of tte week. two things to watch for the balance of the week. 10-year auction and a 30-year auction wednesday and thursday combined again with what i talked with you and liz about earlier. it is the consumer credit number. this market is really driven by geopolitical, then rates and then the structural factors. as we meander through the balance of august we'll keep an eye on all these of those factors. adam: we'll keep an eye on all three anding the big meeting of central bankers at jackson hole,
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wyoming. lincoln ellis, thank you very much. it was a wild day for green mountain coffee after percolating in the red. we want to head to nicole petallides and liz claman. >> liz and i were coffee fans. liz: you should see us together here. >> we talked about green coffee mountain roasters in "barron's" was really negative. it started out negatively and turned into the green with positive analyst comments. liz: that is what an analyst comment can do, turn around a "barron's" bounce or "barron's" fall, right? >> this came out of keybanc. keybanc said a up dove things. a new partnership may be in the works for green mountain and a whole new channel. that would be interesting coupled with the fact the existing deal with j.m. smucker, that would continue to obviously move on and grow and they could
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accelerate here. another point was sales growth. liz: power of the k cup for kurig, green mountain coffee and dunkin' donuts. the k cups work on the all the machines. when you question havety of one company you see how fortunes can change. >> thank you. >> "barron's," amazing the power "barron's" has when it comes to pointing out certain flaws or strengths in a certain stock. guess what? how about three stocks "barron's" says might outperform the markets in months to come? let's bring in jack hough. he is the senior editor. over the weekend you guys pinpointed three names. we wanted to share them with our viewer investors. first, jack, give us a sense where we are as far as earnings are concerned we have had i guess about two thirds of the s&p 500 having reported. 73% of them have beaten revenues but i believe it was a couple our traders who were saying,
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yeah, but liz, the comparisons were so easy. >> what i'm worried about looking to the third and fourth quarter. we have 3% earnings growth this quarter, maybe. if you count one-time gains by banks. if you erase those we really don't have any. look forward the next two quarters, wall street is looking for 20% earnings growth. those estimates have not come down. believing in miracles is one thing. betting on miracles is quite another. i think next two quarters could be falling earnings estimates. so i want to go on the hunt for companies recently beating their estimates on both earnings and sales. they have the kind of operational momentum that might protect them from a up could have quarters of generally falling estimates. liz: okay. thank you for doing the homework for us, okay? now let's get to the answers. we're cheating at this point because "barron's" is helping us on this regard. let's get to your first name. what i love about this is not a name that tends to be spoken about in the financial media.
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explain what they do to our viewers and why do you think this is the one? >> this is drug company, a spin-off from abbott labs. this is supposed to be the boring part of the business, the dull, branded drugs with patent expirations coming up. we love boring, because boring tends to be cheap and boring tends to produce great cash flows. this company is beating estimates. they are finding new uses for drugs they have. they have 16 drugs in pipeline late state development that could add to earnings next couple years. stock is cheap. it has a great dividend deal. abbvie. everybody writing this down? we'll put it on facebook.com/afterthebell. let's get to your second name and that is familiar with our viewers, and that is raytheon. i thought they were struggling because of defense issues and budget cuts? >> they are and their shares have been cut down accordingly. @he thing with raytheon it has the biggest national defense
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exposure of any international contractors. they have defense systems used on any number of platforms. more than a quarter of the sales from overseas. orders ramp up offsetting declines in the u.s. so cheap stock and better results than wall street was generally expecting. >> the last one, group one automotive. now everybody's been talking about the cycle of car purchases. people have been holding their cars for an average of 11 years. it is time to refresh the cycle, correct? >> car sales really have been ramping up here in the u.s. that is helping a lot of different companies of the thing with this company, they make two thirds of profits from things like parts and service so, this company can do well in any number of different environments. it really covers just about all of its operating expenses with its service business which means, that this boost we're getting now from rising car sales, is really going straight to the bottom line. so it's a stock that is still fairly priced but the outlook is for much faster earnings growth
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than you see for the typical stock out there. liz: jack, as we finish up, it was two years ago today the s&p ratings agency said what you know what? the u.s. doesn't deserve a aaa credit rating. what is fascinating to me the first trading opportunity people had after that weekend, you had treasurys, money piling into treasurys. >> yeah. liz: money piling into the u.s. dollar, safe haven play from the lowly aa-plus rated country. what were you folks in "barron's" thinking back two years ago. >> we were thinking market doesn't care what s&p says for one thing. liz: right. >> for treasury yields they react according to the economy. the yields were rock bottom when we had slow growth and no one wanted anything to do with stocks. people were piling on and looking for safe havens. we've seen the yields rise and all the talk is about the fed but let's keep in mind. we've had some better signs economically and investors have gone back into stocks. so they're just not as popular
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now. what happens next depend whether this turns into continued economic growth or whether we begin to flirt with a recession in coming quarters. let's hope for more growth in which case those treasurys would remain unpopular. liz: hey, we appreciate your three stocks today, jack hough, senior editor of "barron's." we'll put them once again on facebook.com/afterthebell in case you missed them. adam, back to you. adam: liz, i know you're a car buff. you talked to jack about cars. wait until you see the indian motorcycles we have coming up in the program. a dramatic twist in the time warner cable and cbs showdown that blacked out programs for millions of people. a new development could spark a revolution in the way everybody purchases cable tv. new york yankees alex rodriguez, one of baseball's greatest hitters gets slammed by major league baseball for alleged doping offenses. we'll tell you what happened and bring you rodriguez's response when we come back. ♪
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adam: we've got an update on the major league baseball suspension of yankees slugger alex rodriguez. rodriguez says he will appeal the suspension. just a bit ago the yankees release ad statement. this is what they're saying. we're in full support of major league baseball's joint drug prevention and treatment program. we also recognize and respect the appeals process and the yankees went on to say however, we are compelled to address certain reckless and false
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allegations concerning the yankees role if this matter. the new york yankees in in way instituted and or assisted major league baseball in the direction of this investigation or used the investigation as an attempt to avoided its responsibilities under a player contract, or did its medical staff fail to provide the appropriate standard of care to alex rodriguez. there is dramatic new development today in the battle over fees between cbs and time warner cable. this showdown has left three million cbs and showtime subscribers in the dark. so are both sides any closer to a deal? dennis kneale joins us with the answer to that question, dennis. >> you know, adam, the blackout of cbs is now its in 72nd hour and from the start this fee fight has been a battle for respect on the part of cbs. now that's because cbs is a free, over the air network even though most everyone getting cbs through the local cable system. cbs shows like "the big bang
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theory" and under the dome and 2 "two and a half men," they're among most watched shows in the entire nation. cbs gets less than a dollar a month per household from local cable systems though cbs's is five times as large. time warner cable told cbs put up or shut up. time warner says if cbs won't agree to new terms and old terms,cbs should get back on air, charge customers a separate fee to watch and time warner will collect it on to cbs. this way, time warner says, we would allow customers to decide for themselves. this would upend the entire tv business. espn doesn't want to persuade each home to pay five buck as month to get espn. too many homes would reject it. channels would rather persuade cable operators to pay up. now we're waiting for cbs response. not out yet but this latest offer from time warner is another counter punch in a bitter battle over money.
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twc blasted cbs, for quote, outrageous demand for programming it delivers free over the air and online. we're willing to do what it takes to keep down the price of tv. and cbs blasting back, accusing the cable guy of negotiating in a combative and non-productive spirit, indulging in pointless brinkmanship and distorted public positioning. so far cbs insists the impact of the blackout has been nil. take a look at this. in fact cbs said from friday to sunday in the three key blackout markets the ratings are the same in prime time as a week ago. the golf championship viewing in those markets was up 150% over a year ago. and local newscasts are up 9%. so far, cbs saying this is a mere flesh wound, adam. that could mean the dispute goes on longer. adam: i'm thinking of monty python. it is just a flesh wound. dennis, you and i work in the industry. we understand what it works for
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us. but they could kill the fatted calf. viewers could figure out where to get their programing and change the economic model sooner than they wanted. >> cbs and time warner cable ought to really make up and make nice. adam: is there a chance, is there a chance we might see viewers actually shift over to tablets and you know, computers to watch programing? >> well, cbs blacked out online shows that it usually shows free on cbs.com as soon as time warner said, go see it on cbs.com. cbs blacked out the shows in all time warner markets, not just in the three markets in this fight. so cbs is pulling out some heavy guns here. adam: dennis kneale, haven't watched showtime since "weeds" went off the air. thank you, buddy. >> okay. adam: "back to the future" in the race for bragging rights in the motorcycle industry. we'll talk to a ceo who is revving an historic brand and trying to overtake
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harley-davidson. liz: and adam confused the term fat the cow. is alex rodriguez that golden goose for the yankees and for the yes network now that he has been banned at least for the rest of the 2013 and 2014 seasons due to the performance-enhancing drugs and mlb rule ing? what will happen? what about the money in all of this? we have a top editor from fox supports.com, peter slayinger weighing in on this one. stay tuned. ♪ she's still the one for you -
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liz: you couldn't exactly say the sports world was rocked by the news that a-rod has been banned for this season and the next season because of his use of performance-enhancing drugs. that came down today but everybody was expecting it. what they might not have been expecting was the backlash against him this is the cover of the "new york post" with picture of a-rod and the words, just go. the post is always opinionated. what does this mean for the yankees? we'll see what it means for a-rod. we know he had a massive contract. what about all the tentacles that stretch out? the yes network which carries all the yankee games and
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merchandising? peter schragerer, foxsports.com. check out his column because he is brilliant. peter, yankees are extraordinarily focused to make it look like they stand with mlb on this. they're going by the letter of the law and everybody knows how much money they could stand to safe simply having as the post said, a-rod go away. >> that is the interesting part. $34 million he will be off the hook if he is suspend. hence a-rod is appealing his suspension. 12 other players got suspended. major league baseball and players union worked together to come to agreement on different suspensions. a-rod is not going down lightly on this he will fight this union came down shortly after the suspensions were announced and they will support alex rodriguez in his fight against baseball. what is most interesting, liz, tonight, alex rodriguez is making his first appearance as a yankee. and healthy and ready to go.
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he will play. there is 72-hour window he will appeal. he will be in the lineup against the white socks in chicago. that should make for a very interesting situation. liz: when he was playing with trenton a couple days ago, he hit a home run, everybody said, wow he is extraordinarily valuable. of course. he is an expert player. he is a major leader when it comes to home runs. all time fifth in homers. you say, okay, he is is valuable but how valuable to the yankees? you talked about the 34 million he could be off the hook for. a lot of times are saying, now a lot of these guys are suspended we can slip under the luxury tax level and hire more players that might perform better because a-rod was already injured, right? >> he was struggling. by the time the suspension is done if he is suspended he will be 39 1/2 years old. his best days will behind him. the yank kise would likely not like to pay that money. they can't say that publicly. that is why he will be in the lineup this week. they don't have to want to face
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those questions they were leading baseball toward this. they're trying to get off the hook. they said we had nothing to do with this this is all baseball. we'll support them with any research or investigation they want to do but we won't give them any tips or clues. what is interesting, the jersey sales, a-rod is the no popular player in new york city as you saw by the "new york post" cover. fans in new york will be fascinating. they play the red sox. i think fan bases from both sides will end up booing alex rodriguez when he takes the field. liz: from both sides. with the yankees and red sox on that one. you never sigh that you mentioned the yet network, their ratings are down during the start of the season. you tell me, do the guys at fox sports believe that is a-rod or derek jeter who has been out and hugely popular player here? let's not count out jeter. >> when jeter came back and saw a ratings boost hitting his
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first home run in his first at bat. they're in fourth place. they're struggling. both jeter and rodriguez were out entire first half of the season. now you have your star infield back. granted they're not youngest guys on the team. there is not much future beyond that there is star power. this is irony of it all, a-rod in the lineup with crowd booing and piqued interest and they will get record rating. >> let's not pile on a-rod. when brand new yankee stadium was redone, they told top dollar luxury suites, the yankees organization they were able to do that because of a-rod. he was very exciting player. top dollar for tickets. the yankees are considered the most valuable franchise when it comes in any sports team when it comes to mlb. what hit could the yankees hit down the road with a-rod not being there. >> i don't think they will take a hit at this point. his reputation is tarnished. he is no longer a fan favorite.
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they cashed in on him. when they won the world series in 2009, alex rodriguez was a star player. they sold plenty of jerseys. they made plenty of money off alex rodriguez. he wants the rest of it. we'll see how it plays out. liz: peter over at fox sports. we need to talk to dennis kneale. he has breaking news. jeff. >> this is stunning announcement, jeff bezos is buying "the washington post" for $250 million. bezos, one of the captains of the online world and future of commerce, putting a quarter of a billion dollars of his own money, not amazon money, into a newspaper that is well over 100 years old and part after model that everyone thinks is dieing. we don't have a whole lot of details a letter gone out from the publisher i believe of "the washington post." two employees telling them about the deal. let's remember that newspapers, which used to have really rich margins and still are profitable but have been really hurt by the internet, are becoming an
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investment for the very rich. ron burkle, the billionaire, pathmark billionaire and david geffen were in buying "the l.a. times." carlos slim, from mexico, one of the world's richest men, rescued "the new york times." jeff bezos of amazon, getting ready to pay for the newspaper itself. many people thought "the washington post" company, most valuable asset inside the company is not the legendary newspaper that led to the watergate investigation that led to resignation of nixon in 19974. "washington post" sold "newsweek" off to barry diller and tina brown's "daily beast." that went defunct. "washington post," heart of the company, being sold to jeff bezos in a private transaction apparently. we'll let you know other details as we get them. >> dennis, we want to let you know, washington post company stock is down about 4% after-hours. again to be clear, they're just
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selling the newspaper "the washington post" to jeff bezos, is that correct? >> that's what it looks like, yes. liz: can i make a point here? when you say the educational business, let's not forget, kaplan test something valuable like you can not believe when it comes to the washington post. warren buffett is one of the biggest shareholders of "the washington post" company. he is not on the board anymore. he stepped down a couple years ago. this is fascinating development t shows jeff bezos, perhaps, do you think, dennis, looking to legacy positioning here? >> i don't know why he would do this. i think all these super-rich guys. they have capital and let their capital flow to wheee it will get higher returns. i don't think he is doing so much a probono public interest acquisition here. i think he feels like a quarter of a billion dollars for this newspaper -- liz: is a deal. >> great deal. he is seeking good returns, rather than trying to do a good thing. >> the stock has just turned positive right now, in after-hours. washington post company, just now turning positive on the
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breaking news dennis is bringing us, jeff bezos, purchasing "the washington post" newspaper, not the entire company of course. that would be billions. washington post company at least divesting of the namesake newspaper. stunning, stunning news especially considering "the new york times" just had a huge article about catherine weymouth yesterday in the sunday style section yesterday, right? you saw that. dennis, thank you very much. we will be right back. adam shapiro and i coming right up. (announcer) at scottrade, ourct
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adam: an american icon returning to the roadways. indian motorcycles, the oldest motorcycle brand, goes back to 1901 with beautiful new bikes just unveiled on saturday night and joining us the ceo of polaris industries, they own indian, they're building these bikes, scott wine joins us to talk about these. >> thank you, adam. adam: thank you for being on fox
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business. this is the return oo these classic bikes. indian classic. you start production tomorrow. >> tomorrow. adam: when can i get one? >> we start production in iowa tomorrow. we have a great production line and great team. early sent before we ship bikes to dealer network and throughout north america and overseas. adam: we should point out polaris knows what it is doing, snowmobiles. adam: victory motorcycles. these are all organic. they don't share components with victory. for purists who love indian motorcycles, what on this machine, and we'll talk about the others as they recognize true to being indian? >> you have the deep drawn fenders and extensive use of the indian headdress. those are key features. tear drop gas tank is something people always look for. adam: lots of chrome. air intake on the left. >> air intake on the left. really classic styling of the engine has been a huge hit. we launched the thunder stroke 111 engine early they are year and it has been well-received. adam: tell me about this,s chief
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vintage, this starts at 21,000, this bike is in stunning shape. >> this is my personal favorite. actually the bike i'm going to be getting. what we like about it is, it has the beautiful leather and a windshield if you want to take a long trip. both the saddle bags and windshield can come off very quickly, so you can have more after cruiser if that is what you want to have. adam: this is the cadillac, the rolls-royce of the line. this is the chieftan, price tack, $22,000. this is automatic windshield. >> electric windshield. it can go up and down if necessary. all the bikes have abs brakes. it has premium features like a push button start. it has automatic locking and unlocking saddle bags, a premium featured bike. adam: polaris, your stock has been on a tear. you're doing well in the second quarter. curious you will build 3,000 in the first year? >> 3 to 4,000 in 2013.
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adam: okay. >> obviously probably double that or more in 2014. adam: your competition, harley, they have a lock basically on a majority of the u.s. market. victory has 5%. how long till this starts growing and you get market share? as you answer that i want to hear one of these machines. interestingly when you haven't sold much of anything, as soon as we start to settle first bike we will be gaining market share. we think indian will be a 5% player, 10% player next few years. adam: five to 10%? >> yes. adam: start this up. i want to hear this thing. people love the sound after get throaty motorcycle. all right. ref this thing. rev this thing. liz claman, i don't know about you, but this is the sound of money being made. indian motorcycles back on the road in the united states. liz? liz: oh, i love it. you know we love the indians as a baseball team, adam and i
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having worked in cleveland. great to see you, good stuff. adam shapiro, polaris and the indian motorcycle coming back. when we come back, oh, boy, you know what? the one commodity that is seemingly shriveling investors wallets and why had you listened to jeff flock on fox business just a few months ago, you might have known this. jeff? >> into every soybean field a little rain must fall. it is falling right now. back in a moment with the man who called the bear market in beans and i will prove it to you. stay tuned. ♪ my mother made the best toffee in the world.
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[ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side.
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adam: more on that incredible news that jeff bezos is buying "the washington post" for $250 million. also saying that they will change the corporate name within 60 days of closing. markets going to be reacting to this. 250 million. "new york times" just sold "the boston globe" for 70 million. the post, 250 million bucks. american soybean prices hit a 17-month low friday but soybean exports already passed u.s. department of agriculture forecasts for the year. jeff flock joins us now live from a field in mchenry,
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illinois, for the second time since march. jeff, getting ready for a bumper crop but what about prices? >> well, prices that's what it does. bumper crop means low prices but that is good in some ways. look at this moisture. i'm digging down in this. i talked about the fact we called this months ago. take a look. roll the videotape of one, well, five months ago now in march. we were digging in this same field. jim mccormick of allen dale told us this snow pack would make for a great soybean crop. it did. >> it did. we had a great snow pack this winter. spoked in the ground. remen -- replenish from a year ago. rain this summer and here's the result. bumper crop in northern illinois. >> not only northern illinois. take a look at the national map. it is incredible. if you look at this map the areas with yellow they need moisture. green, they have too much
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moisture. middle of the country, that is white. all good. you have plenty of moisture. >> own only western iowa and nebraska, everywhere else is the moisture is great. out west, temperatures are ideal. not too hot. >> when we get a crop like this, that means prices are under huge pressure. take a look at the chart and tell me where they're going. >> bean prices are under pressure because after big crop. as long as we do not have a major weather problem such as early frost, we think beans will work down to 11 or mid 10-dollar level by fall. >> all of that, wall street money came into this, funds, all that stuff, sucking sounds. >> yes. funds got out of the corn. they're short corn. but still long beans of the as the weather cooperates, we anticipate funds to be short beans eventually. >> better get out of the rain. another rainy day in the fields. good news for soybeans. good growing. adam: all right, jeff flock. and i hate to go from beans to this but we'll bring you more on
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this amazon deal. $250 million. jeff bezos, you know, buying "the washington post." it is an incredible story. also we've all heard of buildings that have rotating floors that let you gaze out upon a city but, what if the entire building rotated? you would need a barf bag, right, those of us who get seasick. that story is coming up. the middle of this special moment ani need to run off to the bathroom. ♪ i'm fed up with always having to put mymy bladder's needs ahead of my daughter. ♪ so today, i'm finally talking to my doctor about overactive bladder symptoms. [ female announcer ] know that gotta go feeling? ask your doctor about prescription toviaz. one toviaz pill a day significantly reduces sudden urges and accidents, for 24 hours. if you have ctain stomach problems or glaoma, or can not empty your bladd, you should not take toviaz.
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get emergency medical help right away if your face, lips, throat or tongue swells. toviaz can cause blurred vision, dizziness, drowsiness and decreased sweating. do not drive,perate machinery or do unsafe tasks until you ow how toviaz affects you. the most common side effects are dry mouth and constipation. talk to your doctor about toviaz.
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♪ liz: we have much more on the
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breaking news that is extending the newspaper world, and that is amazon is buying the washington post. dennis kneale has more. these newspapers are becoming the new private island for a lot of the ceos. >> reporter: they sure seem to be. understand, the "washington post" putting out a statement and going out of its way to mention the personal decency that makes him i uniquely good donor. the post sold off newsweek. billion at that then died. the daily beast over their kind of went kaput. it's an interesting contrast. is he buying this for profit upside or for cloud? remember the old saying, you don't pick a fight with a guy who buys ink by the barrel. he will on for $250 million the paper of record in washington d.c. will congress dare go after him? one other catch, and i'm surprised they say that they need new owners to take the post to a better place, yet they're letting all of the senior executives stay in place, doing
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the same old job. you have to wonder. liz: dennis kneale, thank you very much. the stock responding nicely. adam, i send it back to you. adam: and i will send it to melissa francis with money next. ♪ melissa: i'm melissa francis, and here's what's "money" tonight. hello first class. jet blue is bringing premium suites, not seats, the cross-country flights. will it turn from quality to a lack of luxury? will this turn off customers? the ceo joins us. plus, alex rodriguez is suspended for 211 games. he is not off the field yet. his appeal could be a financial grand slam for major league baseball. wait until you hear why. and who has made "money" today? believe it or not, these investors have president obama the bank. you have to stay tuned to find out who they are. even when they say it's not, it's alw